Current Events — HabitableZone

Current Events » in reply to I think its a poor investment overall. although if you are diversified in other areas, a little bit of investment in gold stocks wouldn't hurt.

My first gold investment....

Scott Evil's comment about his first silver investment reminded me of my first gold investment. Before I start, I should mention that I'm an "anti-Midas" (if I touch gold then it turns into lead). Prior to Iraq invading Kuwait, I anticipated the value of gold would sky rocket. My reasoning was the world's energy supply was about to be imperiled, the world economy possibly wrecked, ergo gold was a safe haven. What I didn't think of was that wealthy Arabs like to own gold. When a wealthy Arab feels threatened, he sells his gold and buys armaments and Swiss Francs. Gold tanked during the Persian Gulf War and I had an expensive lesson concerning economics.

Gary

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